GBPUSD Chart Technical Outlook corrects lower towards 1.2680 ahead of busy week
GBP/USD is consolidating the recent rally. There is room for the downside towards a confluence support zone of 1.2670-80, the daily ATR range, 38.2% Fib retracement level, and 200% Fib extension level.
The pair’s calendar is busy this week, with UK employment, wages, and GDP data alongside US inflation and the FOMC meeting.
Resistances are located at 1.2760 and 1.2800.
